Gold79 Appoints Peter Mercer as New Independent Director

Ottawa, Ontario--(Newsfile Corp. - April 20, 2023) - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce that Mr. Peter Mercer has been appointed as an independent director effective April 19, 2023. Mr. W. William (Bill) Boberg has stepped down as a director but will remain as an advisor to the Company.

Derek Macpherson, President, CEO and Director stated, "We are pleased to add Peter to the board, he brings a wealth of knowledge and experience to our team. In particular, his hands on experience in mine development and operations adds technical expertise that was previously under represented on the board. We look forward to working with Peter."

As a seasoned industry leader, Mr. Mercer will strengthen Gold79's Board of Directors. Mr. Mercer's knowledge and experience in mineral exploration, permitting, construction, and mine development will be a great asset to Gold79. He brings years of expertise from his recent role as Vice President at Rambler Metals and Mining plc, where he provided technical oversight, stakeholder engagement and managed corporate development and strategic initiatives. Mr. Mercer recently joined American Pacific Mining Corp as Senior Vice President, Advanced Projects.

Peter is experienced in the exploration and development of volcanic massive sulphide ("VMS") and epithermal gold deposits. He has previously held the role of General Manager of the Ming Copper-Gold Mine in Newfoundland and Labrador. Before that, he worked as an exploration geologist helping successfully advance several projects in Labrador, including the Michelin uranium deposit, the Kami Project, and the Ming Mine. Mr. Mercer is a professional geologist and holds a Bachelor of Science from Memorial University of Newfoundland and Labrador.

Mr. Gary Thompson, Executive Chairman stated, "I would like to thank Bill for his long service to the Company, starting as a director in 2008. His experience and insights have been invaluable for both the current and prior management teams. We look forward to his continued support as an advisor to Gold79."

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163098